World Bank loans Morupule with P943m loan

24 May, 2010 in Botswana, Business, Morupule

source: Mmegi BRIAN BENZA Staff Writer Botswana has received a US$136 million (P943 million) loan from the World Bank as part finance for the 600 MW Morupule B power stations currently under construction in Palapye. Morupule B power station is seen as the sustainable long-term solution to Botswana’s power shortages, particularly in the face of [...]

Botswana forms Financial Intelligence Agency

24 May, 2010 in Botswana, Business

source: Sunday Standard by Reuben Pitse 20-05-2010 The Botswana government has established an agency that will combat financial crimes like terrorism, human trafficking and money laundering. The new organ, called the Financial Intelligence Agency, will be fully operational by April next year. It will specifically analyze financial transactions that occur in the country, and also [...]

Africa: Rule No 1 – the Chief is Always Right, It`s His Advisors Who Mislead Him

24 May, 2010 in Africa

source: allAfrica The East African (Nairobi) Jenerali Ulimwengu 24 May 2010 Nairobi — It’s the chief, not his cronies. As they prepared to do the premiere of The Last King of Scotland in Kampala a couple of years ago, I hailed a cab and hurried to evacuate myself from the city centre before Yoweri Museveni [...]

70.5 million Euro support for Botswana-EU

24 May, 2010 in Botswana, Business

source: Mmegi MPHO TLALE Correspondent Botswana has benefited from a European Union (EU) support programme totalling 70.5 million Euro, aimed at boosting human resource development and mitigating the effects of commodity price flactuations in the country. Speaking at the celebrations of Europe Day, Head of the delegation of the EU to Botswana and SADC, Paul [...]

Kgafela slams the media, cabinet ministers

24 May, 2010 in Botswana

source: Sunday Standard by Kagiso Madibana 20-05-2010 Bakgatla paramount chief Kgosi Kgafela Kgafela last week accused Cabinet Ministers of forgetting their Setswana culture and tradition. Kgafela said at a recent kgotla meeting in Mochudi that he is mortified by the fact that none of the cabinet ministers, save for Ramadeluka Seretse, supported him when he [...]

Govt earns P3.3 billion in diamond royalties, taxes

24 May, 2010 in Botswana, Business

source: Mmegi MBONGENI MGUNI Staff Writer A newly released De Beers report states that the Government of Botswana earned P3.3 billion from taxes and royalties from Debswana mines last year, approximately 40 percent lower than previous levels. Released on Wednesday, De Beers’ Report to Society (RtS) 2009 details the diamond giant’s contribution to governments, communities, [...]

South Africa: Fuel Supply Risk As Transnet Strike Enters Its Third Week

24 May, 2010 in South Africa

source: allAfrica Business Day (Johannesburg) Siseko Njobeni 24 May 2010 Johannesburg — THE petroleum industry and other key sectors are bracing for disruption after SA’s largest transport union, the South African Transport and Allied Workers Union (Satawu), this weekend rejected Transnet’s latest salary increase offer and vowed to prolong its strike into a third week. [...]